[patb]

[quote=Arraya][quote=jficquette]They make money at $10/BBL back in the 70’s.[/quote]

Cost of extraction in Iraqi and Saudi Fields is approx $4 per barrel.

John[/quote]

Today ain’t the 70s. It used to cost 1 dollar a barrel back in the day. Iraqi fields are the cheapest and most unexplored, true. Saudi range from like 10-50 depending on the process, they are pretty much squeezed dry of all the easy to get stuff and peaked out.

Turns out, the more you suck out of the ground the more expensive it gets.

Another issue at 25 per barrel. Zero alternatives gets funded. It practically shuts down most companies. The markets is very stupid and shortsighted. It does not know best. The invisible hand is giving us the finger.[/quote]

The trick is you need an Oil Import tax.
Tax oil imported at $40/BBL, that provides a
hard floor for domestic production and it
provides a decent incentive for efficiency, and
it captures more of the price into our domestic
economy.

The problem is the Conservatives who squeal like
little girls at the word tax.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Arraya][quote=jficquette]The reason oil went from mid 30’s to pushing 80 as the economy got worse and worst was solely due to maniplation by entities to keep Russia and Dubai and other Mid East governments from going under.

It’s cheaper for banks and other entities to push up oil prices by buying futures then getting hit with defaults.

Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.

John[/quote]
If oil is at $25, exploration virtually turns off. Interestingly most oil companies need between 75-80 oil to be profitable for new discoveries. Most deep water projects, which are practically the only projects of any serious size are $80+ per barrel.

$25 per barrel oil is certain destruction of the economy. If you push about $125 you have other problems.[/quote]

They make money at $10/BBL back in the 70’s.

[patb]

[quote=Adebisi]LMAO at the 100-year-old managers who don’t get Twitter. I’m currently consorting with 20 other traders on Twitter and the speed and quality of the information is amazing. I can see why you old guys are continuing to hold dollars.

I have no doubt that Flu and Allen are leading their companies to the same fate as Excite.com as they clearlly don’t understand the power of the Internet.[/quote]

How many Derivatives did you trade, create or purchase?

How about CDS?

How much value have you created in your life?

I’ve helped write TCP/IP stacks for Federal installations, assisted in IETF Working Groups,
managed Double Digit millions of R&D, and
am working on a billion dollar product suite.

It’s all these Wall Street Parasites who drained
capital away from the future, so they could
overpay for Co-ops in Manhattan.

[patb]

[quote=Adebisi]LMAO at the 100-year-old managers who don’t get Twitter. I’m currently consorting with 20 other traders on Twitter and the speed and quality of the information is amazing. I can see why you old guys are continuing to hold dollars.

I have no doubt that Flu and Allen are leading their companies to the same fate as Excite.com as they clearlly don’t understand the power of the Internet.[/quote]

How many Derivatives did you trade, create or purchase?

How about CDS?

How much value have you created in your life?

I’ve helped write TCP/IP stacks for Federal installations, assisted in IETF Working Groups,
managed Double Digit millions of R&D, and
am working on a billion dollar product suite.

It’s all these Wall Street Parasites who drained
capital away from the future, so they could
overpay for Co-ops in Manhattan.

[patb]

[quote=Adebisi]LMAO at the 100-year-old managers who don’t get Twitter. I’m currently consorting with 20 other traders on Twitter and the speed and quality of the information is amazing. I can see why you old guys are continuing to hold dollars.

I have no doubt that Flu and Allen are leading their companies to the same fate as Excite.com as they clearlly don’t understand the power of the Internet.[/quote]

How many Derivatives did you trade, create or purchase?

How about CDS?

How much value have you created in your life?

I’ve helped write TCP/IP stacks for Federal installations, assisted in IETF Working Groups,
managed Double Digit millions of R&D, and
am working on a billion dollar product suite.

It’s all these Wall Street Parasites who drained
capital away from the future, so they could
overpay for Co-ops in Manhattan.

[patb]

[quote=Adebisi]LMAO at the 100-year-old managers who don’t get Twitter. I’m currently consorting with 20 other traders on Twitter and the speed and quality of the information is amazing. I can see why you old guys are continuing to hold dollars.

I have no doubt that Flu and Allen are leading their companies to the same fate as Excite.com as they clearlly don’t understand the power of the Internet.[/quote]

How many Derivatives did you trade, create or purchase?

How about CDS?

How much value have you created in your life?

I’ve helped write TCP/IP stacks for Federal installations, assisted in IETF Working Groups,
managed Double Digit millions of R&D, and
am working on a billion dollar product suite.

It’s all these Wall Street Parasites who drained
capital away from the future, so they could
overpay for Co-ops in Manhattan.

[patb]

[quote=Adebisi]LMAO at the 100-year-old managers who don’t get Twitter. I’m currently consorting with 20 other traders on Twitter and the speed and quality of the information is amazing. I can see why you old guys are continuing to hold dollars.

I have no doubt that Flu and Allen are leading their companies to the same fate as Excite.com as they clearlly don’t understand the power of the Internet.[/quote]

How many Derivatives did you trade, create or purchase?

How about CDS?

How much value have you created in your life?

I’ve helped write TCP/IP stacks for Federal installations, assisted in IETF Working Groups,
managed Double Digit millions of R&D, and
am working on a billion dollar product suite.

It’s all these Wall Street Parasites who drained
capital away from the future, so they could
overpay for Co-ops in Manhattan.

[patb]

[quote=Nor-LA-SD-guy]Just think if we no longer had to import Oil we would probably run a trade surplus.

Worth doing IMO.[/quote]

If we stopped importing Oil, we could probably
double the standard of living in this country.

There was a reason Bush and Cheney fought
the Energy policies of the left.

The poorer people are the more conservative they
are.

[patb]

[quote=Nor-LA-SD-guy]Just think if we no longer had to import Oil we would probably run a trade surplus.

Worth doing IMO.[/quote]

If we stopped importing Oil, we could probably
double the standard of living in this country.

There was a reason Bush and Cheney fought
the Energy policies of the left.

The poorer people are the more conservative they
are.

[patb]

[quote=Nor-LA-SD-guy]Just think if we no longer had to import Oil we would probably run a trade surplus.

Worth doing IMO.[/quote]

If we stopped importing Oil, we could probably
double the standard of living in this country.

There was a reason Bush and Cheney fought
the Energy policies of the left.

The poorer people are the more conservative they
are.

[patb]

[quote=Nor-LA-SD-guy]Just think if we no longer had to import Oil we would probably run a trade surplus.

Worth doing IMO.[/quote]

If we stopped importing Oil, we could probably
double the standard of living in this country.

There was a reason Bush and Cheney fought
the Energy policies of the left.

The poorer people are the more conservative they
are.

[Author]

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